Teck Resources Limited (NYSE:TECK) Shares Sold by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec lowered its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 44.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 814,602 shares of the basic materials company’s stock after selling 662,249 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Teck Resources were worth $33,010,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new stake in shares of Teck Resources in the fourth quarter valued at about $25,000. FPC Investment Advisory Inc. acquired a new position in shares of Teck Resources during the 4th quarter worth approximately $27,000. Global Trust Asset Management LLC acquired a new stake in Teck Resources during the 4th quarter valued at $27,000. Wilmington Savings Fund Society FSB purchased a new position in Teck Resources during the third quarter worth $40,000. Finally, Community Bank N.A. acquired a new position in shares of Teck Resources in the fourth quarter worth $33,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

Teck Resources Trading Up 3.8 %

Shares of TECK stock opened at $35.51 on Friday. Teck Resources Limited has a fifty-two week low of $28.32 and a fifty-two week high of $55.13. The firm’s 50 day moving average price is $36.88 and its two-hundred day moving average price is $41.72. The stock has a market cap of $17.50 billion, a price-to-earnings ratio of 64.56 and a beta of 0.81. The company has a quick ratio of 2.35, a current ratio of 2.92 and a debt-to-equity ratio of 0.16.

Teck Resources (NYSE:TECK) (TSE:TECK) last announced its quarterly earnings results on Thursday, April 24th. The basic materials company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.18. Teck Resources had a net margin of 2.96% and a return on equity of 4.59%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the company earned $0.75 EPS. The firm’s revenue was up 41.4% on a year-over-year basis. On average, analysts anticipate that Teck Resources Limited will post 1.53 EPS for the current year.

Teck Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.0901 per share. The ex-dividend date of this dividend is Monday, June 16th. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 1.01%. Teck Resources’s payout ratio is 58.62%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TECK. Desjardins began coverage on shares of Teck Resources in a report on Friday, April 4th. They issued a “buy” rating on the stock. Bank of America raised their target price on shares of Teck Resources from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. UBS Group reiterated a “neutral” rating on shares of Teck Resources in a report on Tuesday, April 15th. BMO Capital Markets initiated coverage on Teck Resources in a report on Wednesday, April 16th. They set an “outperform” rating on the stock. Finally, Veritas upgraded Teck Resources to a “hold” rating in a research note on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.11.

Teck Resources Company Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.